DTM E45. Ravi Ranjan, Entrepreneurship Evangelist + Ex-Shark Tank India + Strategy Director to the Private Office of the Royal Family of Dubai + Chief of Events & Partnerships Venture Catalyst
From the Deep Tech Musings podcast - Get first hand insights on how to go from idea to traction in the deep tech space.
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Are you ready to be inspired and gain valuable insights from one of the most successful and accomplished evangelists in the Indian startup ecosystem? On this episode of our show, we have the privilege of sitting down with Ravi, a true trailblazer who has overcome incredible obstacles to achieve success in his career. From growing up in a Naxalite-affected area in India to holding key roles at Venture Catalyst, Shark Tank, and the private office of the Royal Family of Dubai, Ravi has a wealth of experience to share around those roles.
You'll also hear about his 2-month-long international startup tour spanning 11 countries, and the insider tips he has to offer on the best things to eat in those countries! But that's not all, Ravi also shares his expert advice for entrepreneurs looking to raise funds and what to look for in investors. With over 2000 startup events under his belt, he's also got big plans for a first-of-its-kind Startup Angel event later this year in Abu Dhabi and he's going to give us a sneak peek into what we can expect. Don't miss this opportunity to learn from one of the most accomplished and successful evangelists in the Indian startup ecosystem. Tune in now!
Where to find us:
Ravi Ranjan, Entrepreneurship Evangelist - itsraviranjan (LinkedIn), itsraviranjan (Twitter)
Pronojit Saha, DTM Podcast - pronojitsaha (LinkedIn), @pronojits (Twitter)
Show Notes:
(00:02:16) What motivated Ravi towards entrepreneurship early on in his career
Ravi grew up in a small village in Jharkhand, one of the most naturally affected areas in India
He had no one to look up to as an inspiration and had to become his own inspiration
Growing up in his small village, they had limited access to electricity and there were constant news of explosions or landmine attacks
Ravi was curious about why his village did not have the same opportunities as other cities and decided to become a journalist to find answers and give a voice to the challenges
Despite his family's humble background, Ravi got selected for a prestigious journalism program in New Delhi, but couldn't afford it and had to settle for a lower program in Raji
Ravi started earning money from the first year of college to support his family
Ravi considers all the challenges he faced as his privilege, shaping him into the person he is today
Ravi has had the opportunity to travel the world and contribute to the growth of Indian startup ecosystems, and is proud of his early stages that have contributed to his success
(00:05:30) Ravi’s viewpoint on enabling entrepreneurship at the grass-root levels
Ravi started working with NASCOM's 10,000 Startups initiative in 2014, which was the largest startup initiative in the world at the time with support from companies like Google, Facebook, Amazon, and Microsoft.
He has trained 200,000 aspiring entrepreneurs, 15,000 academicians, and 1,500 government officials to date.
India is currently the third largest startup ecosystem in the world with 200,000 startups and 10,000 angel investors, but it lags behind its counterparts with only 1% of the population impacted by entrepreneurship.
China, in comparison, has 33 million startups and the US has 1.3 million angel investors.
Ravi believes that everyone with expertise and capability should contribute to the goal of increasing entrepreneurship in India, as it could solve problems across the country in various fields such as education, healthcare, and infrastructure.
Ravi cites the example of the company Spandan, which has created the world's smallest ECG device, to show the impact startups can have in improving health care.
He encourages more people to support and invest in startups to solve problems and make a difference in the country.
(00:10:20) What has led to Venture Catalyst’s phenomenal growth in angel investment space
Venture Catalyst focuses on tier 2 and tier 3 cities for investment
Over 50% of Venture Catalyst investors come from tier 2 and tier 3 cities, and over 50% of portfolio companies are from small towns.
Venture Catalyst has invested in successful companies like IGP India, My Fitness, Beardo, Renee, Bharat Pay, etc.
Bharatpay founder Ashneer Grover received a 97X return on investment from Venture Catalyst.
Venture Catalyst started as an angel network and has grown into a group of funds with 5 different VC funds, 9 unicorns, and a total fund of $470 million.
Venture Catalyst's focus on democratizing angel investment across India has resulted in a member base of 6000+ angel investors.
Venture Catalyst's model of investing at multiple stages of the startup journey has helped them identify and support great ideas.
(00:14:00) Ravi’s experience in designing the biggest startup show in India - SharkTank
Ravi was offered to design a business reality show for Sony, which turned out to be "Shark Tank".
Ravi was responsible for conducting a survey to see if a show like "Shark Tank" would be successful in India.
Ravi worked closely with Sony TV to train their Entertainment division on how business works in India.
The show received 60,000 applications and Ravi and his team filtered them down to 240.
The task of finding sharks (investors) was challenging, but Ravi created a list of 300 potential people and met with some wonderful people.
Each shark on the show has a unique character and adds to the show's success.
Ravi believes Season 2 will be even more exciting.
(00:18:40) The goal of the Private Office of the Royal Family of Dubai for startup development
Dubai is looking to bring in growth stage B2B and B2C technology companies as part of its vision of becoming the best city in the world by 2025.
Dubai's Royal Family is seeking to partner with the best companies and bring them to the region.
The city has a history of ambitious plans and visionary leadership, as evidenced by the creation of iconic projects like Palm Jumeirah.
The policies in Dubai, especially in NBFC and ADGM in Abu Dhabi, are favorable for web 3 and metabolic companies, attracting them to the region.
The recent Dubai Metawse Assembly hosted by the Dubai Future Foundation showcased the vision and power of Dubai in terms of the metaverse and the future of web 3.
The event attracted some of the best people and companies from around the world to talk about the web 3 metaverse and the future of the internet and humanity.
India missed out on the next wave of web 3, with all the top companies having already shifted to Dubai.
(00:23:20) Ravi’s experience on representing India across 11 startup nations in 2 months
Ravi represented India at TechCrunch Disrupt in San Francisco
A two-day conference for tech entrepreneurs
Met founders from North America and Asia
San Francisco is a diverse and exciting destination for tech founders due to its openness to new ideas
Attended the Web Summit in Lisbon, Portugal, the largest startup event in the world
70,000 attendees from 160 countries
Smart government partnership with Web Summit results in high economic and cultural impact
Visited Germany, Czech, Spain, and Finland
Spoke at Slush, a unique event with a nightclub atmosphere, driven by students
Discussed the growth of the Indian startup ecosystem
Visited the official village of Santa Claus in Lapland
Met Santa Claus and discussed Bangalore and tech
Saw the Northern Lights twice!!
(00:28:40) Ravi’s gastronomical insights on European food!
Ravi traveled in Europe and encountered different food cultures in different countries
In France, the food was similar to what he is used to and everyone spoke French
In Lisbon, 95% of the food is non-vegetarian and raw, which was challenging for his friends
In Spain, the majority of the food is ham and they eat a lot of seafood
In Berlin, Ravi found a Tamil restaurant and was able to eat Indian food
In Finland, the food is cold, which was uncomfortable for him
In the end, Ravi learned to appreciate different food cultures and how it makes him a mature person, proud of his own cultural diversity in food.
(00:31:50) Ravi’s advice to entrepreneurs on things to consider while raising funding and things to look out for in investors
On Raising funding
Don't raise capital just because it is available, only raise if your company requires it.
Consider the nature of your business in deciding whether or not to raise capital.
Carefully choose investors who will stick with you for the long term.
Avoid taking investment from bad investors as it can lead to loss of control and freedom.
There is plenty of money available from both Angels and VCs, so take time to negotiate from a position of strength.
On identifying ideal investors
Determine the long-term goals and aspirations of the company, such as reaching a $5 billion valuation or expanding to 10-20 countries.
Conduct research to find investors who have invested in similar companies and have a track record of success in scaling companies.
Narrow down the list to top 20 investors and focus on those who have invested in the same vertical as your business. Pitch to the top three and expect one of them to respond positively.
(00:34:30) Ravi’s big plans for one of world’s first and largest event for angel investors in Abu Dhabi
Ravi is working on organizing a global event for angel investors called "Super Angels."
The event is planned to be held in Abu Dhabi in April and is aimed at educating the next generation of angel investors from various regions.
The event will include learning from successful investors and VCs, as well as opportunities for startups to pitch to investors.
Ravi is also planning to spend more time on social media and making more content, as he has been asked by friends and followers to do so. So follow him and watch out for those!
Transcript
Generated by AI, so please bear with some malformed words.
